Edit This Favorite

Name:

Category:

Share:

YesNo, Keep Private

Research & Studies

ASN Study

Does ASN accuracy really matter?

Can we just assume that the vendor puts in the box what the ASN says is in the box?

According to a study by Compliance Networks and Auburn University, an assumption of ASN accuracy may be risky. When problems arise, the implications reach from the DC all the way to the consumer. After examining ASN audit data from multiple retailers from 2006 to 2010, the study's preliminary findings indicate that average ASN accuracy rates are below 95%.

Retailers requested a reference point for their own expense offset policies so RVCF compiled a cross-section of policies for 50 Retailers to normalize deduction types, violation description, and penalty charges. To facilitate the normalization process, RVCF's Global Compliance Protocol, a guideline for the organization of Retailer compliance guides, was utilized.

With all of this data, the Deduction Policy Review is an eye opening study that will have you looking at your own processes.

All About Retail Compliance is an ongoing project to compile requirements from retailers and coordinate them with industry standards, blend in RVCF knowledge, and create an all-encompassing reference. This will allow the reader to:

locate standards

prioritize standards that may need special attention

focus on issues particularly important to retailers

identify terms and acronyms

learn the order process, step-by-step

understand why each step is important, including what each component of the process means and entails

RVCF has been invited to join the Minneapolis, MN, Federal Reserve Bank and other subject matter experts as a member of the Remittance Coalition. Established in June 2011, the objective of the Remittance Coalition is to bring standardization (through ANSI X9) to the payment/remittance process in the B2B environment (especially small business payment transactions). The Fed would like to speed up the maturity level in the electronic payment process, significantly reducing the use of paper checks. To best serve the collective interests in this endeavor, Retailers may send a copy of their current Remittance Reason Codes to us to ensure that the retail industry's codes are included in the data being collected. Reason Codes may be e-mailed to kzablocky@rvcf.com.